Japan retailers keeping prices low to appeal to frugal buyers

Tokyo

SOME Japanese retailers are finding a way to make money even as consumers in the country spend less of it.

Clothing chain Shimamura Co beat its forecasts this week, with first-half net income rising 46 per cent from a year ago, as it limited special sales events and brought in more shoppers by keeping prices consistently low. Aeon Co, Japan's largest retailer, reported second-quarter profit of 882 million yen (S$11.7 million) and said that it will adjust prices to widen its appeal to frugal buyers.